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      PENNYMAC

      Engaged Employer

      PENNYMAC reviews

      3.0

      46% would recommend to a friend

      (1,562 total reviews)
      avatar

      David Spector

      52% approve of CEO

      46% positive business outlook

      Ratings by demographic groups

      PENNYMAC has an employee rating of 3.0 out of 5 stars, based on 1,562 company reviews on Glassdoor which indicates that most employees have an average working experience there. The PENNYMAC employee rating is in line with the average (within 1 standard deviation) for employers within the Financial Services industry (3.7 stars).

      Reviews by job title

      2K reviews
      4.0
      Jun 18, 2024

      Great Experience with Consummate Professionals

      Sales specialist i
      Recommend
      CEO approval
      Business Outlook

      Pros

      Working at PennyMac has been one of the most rewarding professional experiences I’ve ever had. The environment is marked by a high level of professionalism and courtesy. The team, from upper management to entry-level employees, is composed of genuine and kind individuals. The company is situated in a prime area with a reasonable commute, enhancing the overall work-life balance. During the COVID lockdowns, PennyMac demonstrated its commitment to employee well-being by providing care packages and thoughtful gifts, which were a nice touch. Management is highly accessible and possesses a diverse range of expertise, always ready to offer guidance. I appreciate the company’s metrics-driven approach, which fosters transparency and clear expectations. I am enthusiastic about the prospect of returning to PennyMac after completing my degree and look forward to advancing my career here with higher compensation.

      Cons

      However, there are some areas where improvement is needed. Upper management often seems ensnared in bureaucratic processes that can stifle innovation and feedback from lower-level employees. On several occasions, I proposed logical enhancements to sales tactics and scripts that, despite their potential, were overlooked due to my position within the company hierarchy. The company’s suggestion portal offers a modest $50 reward for ideas, which feels inadequate given the potential impact of some proposals. Although there are opportunities for upward mobility, navigating the path to raises and promotions requires significant effort and self-advocacy. Addressing these challenges could make PennyMac an even better place to work.

      avatar
      PENNYMAC Response
      2y
      Thank you for taking the time to share your thoughts on our company. We appreciate your honest feedback along with the pros and cons you mentioned. First and foremost, we are glad to hear that you believe our company is always striving for growth, both in terms of our products and our professional growth. Regarding the cons you have mentioned, we fully accept your feedback and understand that communication is an area that needs improvement. We agree that we have more to do when it comes to informing employees about the benefits we offer. We appreciate your suggestion that we can internally market it better, and we are committed to doing so. Our company values open communication, and we take your advice seriously. We will continue to listen to our employees' feedback and work towards improving our communication channels. Once again, thank you for your honest feedback, and we look forward to continuing to learn and grow with you.
      2.0
      Jun 18, 2024

      Low Compensation

      Loan counselor iii
      Recommend
      CEO approval
      Business Outlook

      Pros

      Family oriented. Great benefits for mothers and new fathers. Very team based.

      Cons

      CEO/Executives - do not want to pay their employees appropriately. You will be overworked. You will be paid under the average salaries of your peers with other companies. They do jot plan on giving raises when annual reviews are completed. They do not share the profit sharing’s, end of year bonus is not a thing here. The use their Penny Pantry as a way of an incentive for having to be fully on site. The CEO hates Work from home models and currently in the process of eliminating this. The CEO and executives prefer to eliminate departments instead of giving justified pay raises for the work load presented. Growth is not a priority with PENNYMAC.

      5.0
      Jun 13, 2024

      Great Company

      Loan officer
      Recommend
      CEO approval
      Business Outlook

      Pros

      Inbounds not cold calls. Management and staff. Fun energetic environment. My favorite place to work ever.

      Cons

      No remote options are available

      avatar
      PENNYMAC Response
      1y
      Thank you for taking the time to share your thoughts about your experience working with our company. We appreciate all forms of feedback, whether it be positive or negative as it allows us to improve and continue providing valuable services to our employees and clients. We are glad to hear that you found the working environment to be beneficial for you. We take great pride in ensuring that our work environment is conducive to productivity and fosters a sense of community among our team members. Our company values open communication, and we take your advice seriously. We will continue to listen to our employees' feedback and work towards improving our communication channels. Once again, thank you for your honest feedback, and we look forward to continuing to learn and grow with you.
      Viewing 175 - 177 of 1,562 Reviews
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      ReviewsPENNYMAC reviews

      Glassdoor has 1,678 PENNYMAC reviews submitted anonymously by PENNYMAC employees. Read employee reviews and ratings on Glassdoor to decide if PENNYMAC is right for you.